Gainwell Group, India dealer of Caterpillar heavy equipment, on Wednesday acquired TIL Ltd (formerly Tractors India) and infused Rs 120 crore into the Kolkata-based construction equipment maker that includes Rs 70 crore for subscribing a preferential issue of equity shares.
Gainwell, the Kolkata-headquartered capital goods manufacturer with presence in the mining, construction, energy, defence, railways, and heavy equipment sectors, plans to invest Rs 1,000 crore over the next three years with an aim to become a $1-billion company by 2028, a senior company executive said.
